Maryland housing Data: August 2022

Units Sold

2021 - 2022 Comparison

% Change in Units Sold

Units Pending

Pending: Now that the seller and the buyer have agreed to each other’s terms and all contingencies have been met, the home is marked as pending and taken off the market

Units Pending: Number of houses that reached pending status

2021 - 2022 Comparison

% Change in Units Pending

Active Inventory

The inventory number is calculated by simply taking a count of the properties marked as active on the last day of the month

2021 - 2022 Comparison

% Change in Active Inventory

Average Sale Price

2021 - 2022 Comparison

% Change in Average Sale Price

Median Sale Price

2021 - 2022 Comparison

% Change in Median Sale Price

Median Days on Market

Median DOM: 50% of the houses had active status below this number of days and 50% of the houses had active status above this number of days.

2021 - 2022 Comparison

% Change in Median Days on Market

Months of Inventory

% Change in Months of Inventory

New Listings

2021 - 2022 Comparison

% Change in New Listings

Conclusions

Maryland consists of 23 counties and Baltimore City. Altogether 24 regions.

  • Units sold is down in every county except for Allegany county
    • Range of % YoY Change in Units sold is -59% to 23.7%
  • Pending Sales is down in all but two counties - Dorchester, and Somerset
    • Range of % YoY Change in Units pending is -40.5% to 57.1%
  • Active Inventory is up in 4/24 regions
    • Range of % YoY Change in Active Inventory is -50.6% to 21.9%
  • Average sale price is down in 7/24 regions
    • Range of % YoY Change in Average Sale Price is -34.2% to 26.6%
  • Median sale price is down in 6/24 regions
    • Range of % YoY Change in Median Sale Price is -23% to 15%
  • Median days on market is down in 3/24 regions and Median DOM is up in 20/24 regions. In 1/24 regions median DOM is unchanged
    • In Talbot county YoY median DOM decreased by 8 days and in Garett county it increased by 17 days
  • Months of inventory is up in 7 counties and unchanged in 2 counties. In rest of the regions months of inventory is down or the down.
    • Range of % YoY Change in Months of Inventory is -29.4% to 45.4%
  • New Listings are down in all of the regions except for Caroline, Allegany and Dorchester counties.
    • Range of % YoY Change in New Listings is -41.3% to 17.5%

Montgomery County trend: January - September 2022

Units Sold

% Change in Units Sold

Units Pending

% Change in Units Pending

Active Inventory

% Change in Active Inventory

Average Sale Price

% Change in Average Sale Price

Median Sale Price

% Change in Median Sale Price

Median Days on Market

% Change in Median Days on Market

Months of Inventory

% Change in Months of Inventory

New Listings

% Change in New Listings

Conclusions: Montgomery County

  • Units sold is down from January through September

    • % Change in units sold doesn’t show a consistent pattern; However, we observed the largest YoY decline in units sold in July (-30.01%) and in September the change was -28.32%

  • Units pending is also down from January through September. Since February YoY decline in units pending has been increasing and in September we saw the largest decline which was -32.32%

  • 2022 active inventory is also down compared to 2021 levels. However, it improved every single month from January 2022 till June 2022. but July there was a slight decline compared to June

    • In January the YoY % difference was -50% but in September the YoY % difference was -28.22%

  • Average sale price was lower in January 2022 compared to January 2021.

    • Average sale price further decline in September 2022. Average sale price declined by $122,389 from May to September 2022. September average prices were below the average prices of March 2022
    • Average sale price is higher in 2022 compared to 2021. In August YoY increase was 4.89%

  • Median sale price gradually increased every single month since February 2022 to May 2022

    • For the fourth consecutive month median sale price declined in September 2022. Median sale price declined by around $95,000 from May to August 2022
    • In August YoY increase was only 2.94%. Second smallest increases since February 2022

  • Median Days on Market is higher in January 2022 compared to January 2021 by 2 days. From February through May there was no change in median days on market between 2022 and 2021. In July 2022 median DOM stayed the same as July 2021. Then in August 2022 median DOM increased by 1 day compared to August 2021. Then in September 2022 median DOM increased by 3 days compared to September 2021.

  • Months of Inventory has been down throughout 2022; However, it has been gradually increasing since January with a decline in August compared to July. In January YoY change in months of inventory was -55.56% and in September it improved to -15.38%

  • New Listings has been down throughout 2022 except for in February. YoY change in new listings are similar in September, August and July.